India Gold price today: Gold rises, according to FXStreet data

Gold prices fell in India on Thursday, according to data compiled by FXStreet.

The price for Gold stood at 9,166.56 Indian Rupees (INR) per gram, down compared with the INR 9,053.70 it cost on Wednesday.

The price for Gold decreased to INR 106,916.50 per tola from INR 105,600.60 per tola a day earlier.

Daily Digest Market Movers: Gold price attracts safe-haven flows amid persistent trade uncertainties

US Treasury Secretary Scott Bessent denied reports that the White House is considering unilaterally slashing tariffs on Chinese imports. Bessent added that high duties imposed by both sides need to come down mutually before talks can begin, tempering hopes for a quick resolution to the US-China trade standoff and reviving demand for the traditional safe-haven Gold price.

The Federal Reserve's Beige Book showed that pervasive uncertainty over US President Donald Trump's shifting tariff plans threatens to curtail growth in the months ahead. The report further revealed that consumer spending remains mixed, while the labor market has shown signs of cooling after stalling or edging lower in many Fed districts, pointing to a gloomy outlook.

On the economic data front, a preliminary reading of S&P Global's Composite PMI indicated US business activity expanded at a slower pace in April. The data revealed a diverging performance across sectors, with manufacturing activity continuing to grow modestly, while the non-manufacturing PMI pointed to signs that demand in the services sector may be losing steam.

The US Dollar erodes a part of its recovery gains registered over the past two days amid bets that the Federal Reserve will resume its rate-cutting cycle in June and lower borrowing costs at least three times by the end of this year. This turns out to be another factor that benefits the non-yielding yellow metal, though a generally positive risk tone might cap any further gains.

Meanwhile, signs of easing trade tensions between the world's two largest economies and receding fears that the Fed could lose its autonomy boosted investors' appetite for riskier assets. This might hold back bulls from placing fresh bets around the XAU/USD as traders now look to the US macro data - Jobless Claims and Durable Goods Orders - for short-term impetuses.

FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.

(An automation tool was used in creating this post.)